All businesses go through rough patches.
Some are rough times that seem to only affect our business, but sometimes there’s a slow period for the entire community.
The current COVID-19 pandemic has brought the world to a nearly full stop. It’s frightening to watch every business close their doors as we’re given orders to stay home. Whether it’s an economic recession or a pandemic, there are things you can do to help your business survive.
1. Let yourself feel all the feelings.
Yes, there are moments of panic. There are thoughts of, “Holy crap, how will I pay the bills?!” While it’s not healthy to stay in panic mode, it’s also not healthy to ignore it. Give yourself the freedom to have a freak-out moment. Maybe you take that first day to just wallow in feeling overwhelmed. Or maybe you shut off all electronics and pour yourself a glass of wine before going to bed early. However you do it, let yourself cry, worry, and have your panic moment.
Then you wipe those tears and get ready to strategize. You got this!
2. Evaluate your finances.
Take a look at your bank accounts. How long can you go with what you have in the bank right now?
Look at your expenses. If the rough patch continues, what could you possibly cut? Are there payments that can be postponed or vendors that have flexibility in due dates? Are there services that you just don’t NEED?
3. Find the money.
There are often jobs or requests that are in the works, but haven’t been completed yet. I like to think of this as found money.
Do you have any requests from clients that you just hadn’t had a chance to get to yet? Give them a call or drop an email to confirm the job!
Do you have any invoices pending payment? Now’s the time to tie up those loose ends.
Are there any galleries out that haven’t been finalized? Follow up with your client so they make final selections (and final payments come in the door!).
4. Brainstorm.
Take time to think about all the money-making possibilities. Let your mind wander, and consider work that doesn’t exactly fall within your current offerings. It’s all possible! If times are tight or the economy has slowed down, be open to all possible options. Once you have loads of options written down, consider which ones bring in money the fastest and which ones are more in line with your current brand.
Depending on the reason for the rough patch in your business, you can choose what options make the most sense for you.
During this particular time we have a pandemic of COVID-19 throughout most of the world. Since it’s a health risk that’s making us all stay indoors and away from socializing, this means we turn to virtual living. What this means for your business is that you can explore ways to serve your audience virtually (we’ll talk more about that below).
5. Work ON your business.
I like to leave this one for last because when you’re freaking out about a slow period in business, the last thing you want to do is invest time in non-money-making activities. And working on your business does actually lead to money, but not immediately.
So what does it mean to work ON your business?
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Update your website
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Plan out social media posts
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Evaluate your offerings, including rates
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Create a vision board or simply sit to envision your goals
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Evaluate your process - do you need to update contracts? Do you like the CRM system you’re using? How about your method for invoicing?
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Check in with your clients. Just because :-)
So What options are there for photographers that are virtual?
Here are a few that I’ve done in the past or am considering for my own business:
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Write articles for websites. For three years I was a paid contributor to photography sites. If you’re new to photography in general, you can consider other types of websites. Most sites will have information on how to contribute, and look for ones that offer pay. The pay is typically not very high, but it’s a bit of money that can trickle in to help in rough times.
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Sell digital products. Have you created presets or templates for yourself? Do you have amazing templates you use for emails, client handouts, or your own reference? Any sort of product that can be sent as a digital file can be sold. Consider all options! Sites like Teachable and Etsy can be perfect for selling digital products, as well as Creative Market (although CM takes a huge commission).
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Sell physical products online. Maybe you’re decluttering, or maybe you love finding vintage goodies at the flea market. If you have any physical items that are in good condition to sell, give it a go! There are lots of people still working remotely during this period of social isolation.
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Sell photo prints online. Do you photograph your travels? Landscapes? Fine art portraits? Abstracts? This is a crowded market, but it can’t hurt to post some prints for sale online to give it a go! To make it easier you can consider sites like Cafe Press that offer a variety of prints and products for your photos, and the best is part is that THEY fulfill orders.
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Sell stock photos. In a similar vein to the above, consider selling photos for stock purposes. Sites like Getty and Cavan are great for listing your photos. Check requirements and scour your hard drives to see if some of your work could serve others as stock images! This is another passive form of income that is a good idea to set up for the long-term anyway.
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Train others virtually. I’ll be moving all of my mentorship sessions to a virtual platform for the time being, but if there’s a skill set that you can train others in then you can do the same! Maybe it’s from a past career (this is the time to dust off old skills), or maybe it’s photography-related. You can offer your services on social media to your existing network, as well as on sites specifically for hiring pros. Sites like Lessons.com, Teachable, or UpWork are all possibilities worth considering.
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Get a temporary job in industries that desperately need help. Right now we’re in the midst of a pandemic. Folks are running to grocery stores and clearing out shelves, causing more panic. What this means is that grocery stores are desperately trying to keep up with demand! To keep up, they’re hiring like crazy. Right now, any business that sells food and home goods is hiring like mad. This includes grocery stores, large department stores, big box stores, Amazon, and food delivery systems. If paying bills is a major problem for you right now, consider taking a step outside your usual and taking a job with one of these industries to make ends meet (and you’ll be helping fill a massive need of others!).
Resources for You
Finally, I want to leave you with some resources. As more useful links appear during this pandemic, I’ll be adding them to the list. (So bookmark this post!)
5 Steps to Surviving the Small Business Apocalypse
Helpful links to selling online (via Shootproof)
PPA (Professional Photographers of America)
Through this rough patch and always, take care of yourself.
xo,
Natalia